China Merchants Bank Co. (OTCMKTS:CIHKY) Sees Significant Drop in Short Interest

China Merchants Bank Co. (OTCMKTS:CIHKY) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 6,141 shares, a drop of 73.3% from the June 30th total of 23,003 shares. Based on an average daily volume of 117,619 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of China Merchants Bank to a “hold” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, China Merchants Bank currently has an average rating of “Hold”.

China Merchants Bank Trading Up 0.7%

Shares of China Merchants Bank stock opened at $31.29 on Tuesday. The firm has a market capitalization of $157.83 billion, a P/E ratio of 7.76 and a beta of 0.21. The business has a fifty day simple moving average of $29.83 and a two-hundred day simple moving average of $30.74. China Merchants Bank has a 12 month low of $27.26 and a 12 month high of $34.88.

China Merchants Bank (OTCMKTS:CIHKY) last released its earnings results on Wednesday, April 29th. The company reported $1.08 earnings per share for the quarter. The firm had revenue of $12.44 billion for the quarter, compared to the consensus estimate of $12.43 billion. China Merchants Bank had a net margin of 32.40% and a return on equity of 12.14%. Analysts predict that China Merchants Bank will post 4.51 earnings per share for the current year.

About China Merchants Bank

China Merchants Bank (OTCMKTS: CIHKY) is a major Chinese commercial bank headquartered in Shenzhen. Established in 1987 as one of the country’s early joint-stock commercial banks, it has grown into a full-service banking group serving individual, small and medium-sized enterprise (SME), and corporate clients. The bank is part of the broader China Merchants Group ecosystem and maintains listings on domestic and international exchanges to facilitate investor access.

The bank’s core businesses encompass retail banking, corporate and commercial banking, private banking and wealth management, credit cards, transaction banking and trade finance, treasury and markets, and asset management.